Dominic Choa Real Estate

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Blog, HDB, Private Property, Real Estate

Where New Homes Are Being Built in Singapore’s East (2025 Edition)

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Singapore’s eastern region is poised for a major transformation. With over 200,000 new homes planned across areas like Bayshore, Paya Lebar Air Base, and the future Long Island, this wave of redevelopment is set to reshape the real estate landscape and offer unparalleled opportunities to homeowners and investors alike. If you’ve been wondering where the next property hotspots are, here’s what you need to know—and how these developments could impact your decisions. Bayshore: A New Coastal Township with Urban Connectivity After decades of limited residential development, Bayshore is finally stepping into the spotlight with a bold, future-ready estate. The upcoming 60-hectare site will introduce 10,000 new homes—split between 7,000 HDB flats and 3,000 private units. This area has long been underutilised, despite its prime East Coast location and proximity to city-centre amenities. What this means for buyers and investors: This marks the first major housing rollout here since 1997, and judging by the overwhelming demand for 2024’s BTO projects—Bayshore Vista and Bayshore Palms—it’s clear that this location is long overdue for renewal. Paya Lebar Air Base: A Mega Township in the Making Set to be vacated in the 2030s, Paya Lebar Air Base and its surrounding industrial estates will be transformed into a massive township. We’re looking at an area five times the size of Toa Payoh, with plans for up to 150,000 homes, as well as schools, parks, mixed-use developments, and new MRT lines. Why this is a big deal: For buyers planning long-term, or investors thinking ahead to the next frontier, this area could be a key focus over the next two decades. Long Island: Singapore’s Next Waterfront Destination An entirely new coastal district, Long Island will be built on reclaimed land stretching from Marina East to Tanah Merah. This ambitious project will not only offer 30,000 to 60,000 new homes, but also act as a crucial line of defence against rising sea levels. How this affects real estate in the East: This development is decades-long, but for long-term investors and homeowners looking to future-proof their choices, understanding the impact of Long Island now is critical. More Growth in Simei, Chai Chee, and Loyang Beyond the marquee developments, other mature estates are also getting a fresh wave of attention: These estates offer quieter entry points for families and first-time buyers looking for a foothold in a well-connected and mature region, without the price tags of more central areas. Conclusion: Should You Be Looking East? With Eastern Singapore at the heart of urban transformation, it’s no longer just a desirable lifestyle zone—it’s becoming a core investment cluster. Between modern transport links, waterfront developments, and massive new housing pipelines, this region is evolving into a new epicentre for growth. Whether you’re exploring your next home or hunting for long-term property value, understanding the potential of these developments gives you a head start. Interested in learning which projects fit your needs or investment goals?Contact Dominic Choa Real Estate today at 88263821 or dominic.choa93@gmail.com for personalised advice on navigating Singapore’s Eastern property boom.

Lumina Grand Executive Condominium
Blog, Private Property, Real Estate

🏙️ Executive Condos Are Crushing It in 2025…

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Something unexpected happened in March 2025. While new private home sales took a hit—dropping to one of the lowest monthly numbers in recent years—Executive Condominiums (ECs) bucked the trend. Big time. So, what’s going on? And why are so many Singaporeans turning to ECs now? Let’s break it down. Private Home Sales Took a Tumble First, the cold hard truth:In March, developers sold just 301 new private homes (excluding ECs). That’s a month-on-month drop of nearly 50% from the 605 units sold in February. It’s also the lowest March sales figure since 2020, right when COVID-19 started to shake things up. Why the slowdown? EC Sales? Totally Different Story. While the private segment cooled off, Executive Condominiums went the other way. In March, developers sold 193 EC units, more than 60% of total EC sales for the first quarter. And get this—almost all of them came from one project: Lumina Grand in Bukit Batok. Why is that huge? Let’s put it in perspective:A private condo nearby might go for $1,900 to $2,200 psf. That’s a massive difference, especially for families upgrading from HDBs. Why ECs Are the Darling of the Market Lumina Grand: A Case Study Want a real-world example? Let’s talk Lumina Grand in Bukit Batok. That’s a solid upgrade option for families living in Bukit Batok, Choa Chu Kang, or Jurong who are reaching the end of their MOP. So… Should You Jump on the EC Bandwagon? If you’re sitting on the fence, here’s the thing—ECs are limited. And when demand spikes like this, it often leads to fewer units left, less choice, and higher prices. If you qualify for an EC, you’re basically getting a steep discount on private living. Just make sure: Final Word: Don’t Sleep on ECs 2025 might be the year Executive Condos steal the show. They’ve always flown under the radar, but with private home prices holding firm and interest rates still high, ECs are suddenly the sweet spot for smart, value-driven buyers. Want to explore EC options or run the numbers? Let’s chat.It might just be the smartest move you make this year.

Blog, Buy Condominium in Singapore, Real Estate, Resale Condominium, Resale HDB

Singapore’s Silicon Valley – One North

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Singapore’s one-north district stands as a testament to the nation’s commitment to innovation and high-tech industries. Conceived in the early 2000s by JTC Corporation, this sprawling hub encompasses eight distinct precincts, each tailored to foster collaboration and growth in sectors like biomedical sciences, information and communications technology (ICT), and media. Unlike traditional business parks dedicated to single industries, one-north thrives on a dynamic ecosystem that encourages cross-sector synergy—a crucial element for research and knowledge-driven enterprises. Over the past two decades, the Singapore government has consistently allocated about 1% of its GDP annually to research and development (R&D). This unwavering investment has borne fruit, with one-north evolving into a vibrant community of over 400 leading companies and 800 start-ups, collectively employing around 50,000 knowledge workers. The district has attracted upwards of $8 billion in investments, solidifying its reputation as a burgeoning “Silicon Valley” of the East.​ERA A prime example of one-north’s success is Biopolis, the district’s inaugural cluster dedicated to biomedical R&D. Serving as a collaborative platform for both private and public scientific communities, Biopolis houses research institutes and laboratories for pharmaceutical and biotech companies. Notably, Wilmar International established its global headquarters here, and in 2014, Procter & Gamble unveiled a $250 million innovation center within the precinct. The recent completion of Biopolis Phase 6, known as Elementum, in December 2023, adds a 12-storey facility offering semi- and fully-furnished laboratories, catering to the growing demand from smaller firms seeking ready-to-use research spaces.​ Beyond its role as a research hub, one-north embodies the “work-live-play-learn” philosophy. The Wessex Estate, for instance, provides housing options, including conserved black-and-white bungalows, for professionals working in the vicinity. The district also boasts co-living spaces, serviced apartments, hotels, and condominiums, fostering a sense of community among its diverse inhabitants. Educational institutions like INSEAD Asia Campus, ESSEC Business School, and Unilever’s training center at Nepal Hill further enrich the “learn” component of this integrated ecosystem One-north exemplifies Singapore’s strategic vision of nurturing a knowledge-based economy. By seamlessly integrating research, business, residential, and educational facilities, it has cultivated an environment where innovation flourishes, and enterprises thrive. As it continues to evolve, one-north stands poised to reinforce its position as a pivotal player in the global high-tech and innovation landscape Biomedical, sciences and research Biopolis was the first precinct to take shape in one-north, and it set the stage for the district’s reputation as a hub for biomedical research and development. Designed to foster collaboration between the private and public sectors, it houses research institutes and labs for pharmaceutical and biotech companies, making it a key player in Singapore’s life sciences scene. Beyond just big-name corporations, Biopolis also caters to specialised research institutes focused on areas like neuroscience, immunology, and pre-clinical trials. It’s no surprise that global heavyweights have made their home here—Wilmar International set up its global HQ in Biopolis, and in 2014, Procter & Gamble pumped $250 million into its innovation centre within the precinct. The latest addition to this ecosystem is Biopolis Phase 6 (Elementum), completed in December 2023. This 12-storey biomedical science facility offers both semi- and fully-furnished labs, addressing the growing demand for ready-to-use research spaces. This setup is especially beneficial for smaller firms working in the supply chain of MNCs, allowing them to be in close proximity for seamless collaboration. While Biopolis is the go-to hub for biomedical sciences, Fusionopolis serves as the nerve centre for ICT, physical sciences, and engineering R&D. It’s home to a mix of organisations, high-tech firms, and government agencies, including Linden Research (the creators of the 3D virtual world Second Life), Thales Technology Centre, A*STAR, and the Info-communications Media Development Authority (IMDA). Gaming hardware giant Razer has also established its SEA headquarters here, cementing Fusionopolis as a key innovation hub beyond just life sciences. Corporate HQ and Start Up Central Mediapolis is the beating heart of Singapore’s infocomm and media scene. It’s home to major production studios, including Mediacorp Campus and Infinite Studios, a massive 1.2-hectare soundstage facility. The district also features ALICE@Mediapolis, a privately developed smart business park designed for start-ups and established media firms looking for a dynamic and sustainable workspace. Right across from Mediapolis sits Grab’s massive 9-storey headquarters. Spanning over 42,000 square metres, the Grab HQ houses around 3,000 employees, a cutting-edge R&D centre, and the first-ever GrabMerchant centre—a dedicated space to support Grab’s growing network of business partners. Just next door, LaunchPad and Ayer Rajah have established themselves as the go-to precincts for start-ups, incubators, and companies in emerging industries. LaunchPad, often called the cradle of Singapore’s start-up scene, was designed as a testing ground for new ideas. The concept of clustering similar businesses together fosters a highly collaborative environment, allowing entrepreneurs to share resources, connect with ecosystem partners, and scale up faster. The results speak for themselves—some of Singapore’s biggest start-up success stories, including Carousell, 99 Group, ShopBack, and IglooHome, all took off from LaunchPad. With a thriving mix of start-ups, venture capitalists, and accelerators, it remains one of the best places in Singapore to turn an idea into reality. Institutes of Higher Learning The one-north precinct is well-connected by two MRT stations—Buona Vista and one-north, making it easy to get around. Surrounding these stations, as well as key areas like Biopolis, Media Circle, and Rochester Park, you’ll find a variety of amenities catering to both professionals and residents. Education and innovation go hand in hand at one-north, thanks to its proximity to top institutions like the National University of Singapore (NUS) and Singapore Polytechnic. With a strong emphasis on knowledge-sharing and collaboration, businesses—especially those in R&D—can easily tap into talent, research, and expertise from these institutions. This close-knit ecosystem fosters industrial-academia partnerships, helping companies stay ahead in innovation while providing students and researchers with real-world industry exposure. Singapore Science Park Nestled within the greater one-north district, Singapore Science Park is a key hub for R&D, biomedical sciences, and tech innovation. Home to over 350 multinational corporations, companies, and research labs, it’s one of Asia’s most prestigious addresses for cutting-edge industries. Its strategic

Blog, Buy Condominium in Singapore, Real Estate

What are the Executive Condominiums in 2025? The Latest Executive Condo Options and Pricing

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Are Executive Condominiums (ECs) still a good option for home buyers today? They may not be, as buyers are constrained by the amount of loan which they can take up for their EC purchase. This is largely due to the stringent Mortgage Servicing Ratio (MSR) that applies for Executive Condominiums. Even with the maximum combined monthly income ceiling of $16,000, buyers may only qualify for a loan of up to $1 million, requiring them to cover the excess EC cost with cash and/or CPF. With average EC prices starting from $1.4m and above, EC buyers still have to fork out a substantial cash / CPF outlay to afford an EC in 2025. Still, many Singaporeans are drawn to ECs, seeing them as a better value compared to private condos. In 2024, the median transaction price for a new Outside Central Region (OCR) condo unit (900–1,000 sqft) was 42% higher than a similar EC unit. Yet, despite the lower price, EC residents still get to enjoy a comparable lifestyle—with security and full-fledged facilities like swimming pools, gyms, and function rooms. Table 1: Price comparison between a new EC and OCR condo (900 – 1,000sqft) in 2024 Plus, the lower purchase price means a smaller loan amount, which helps reduce interest costs. On top of that, eligible first-time buyers can receive up to $30,000 in grants to offset their initial down payment. Impressive Sales Performances In Recent EC Launches Lumina Grand sold 53% of its units at an average price of $1,464 psf during its launch weekend, while Novo Place moved 57% of its 504 units at an average price of $1,654 psf during its November 2024 launch. When Novo Place opened for a second round of balloting for second-time buyers, it sold another 137 units, bringing total sales to 88%. According to URA caveats, there were 1,185 new EC transactions in 2024. With only a limited number of EC launches each year, buyers have been turning to the remaining supply. As of end-January 2025, the available EC stock had dwindled to just 138 units. What makes ECs so Attractive? Despite the higher upfront costs, buyers remain undeterred for two key reasons. Beyond the lower price, EC buyers aren’t required to sell their existing home before making a purchase. For HDB upgraders, this means they can avoid paying Additional Buyer’s Stamp Duty (ABSD) when buying a new EC. Additionally, EC buyers have the option to use the Deferred Payment Scheme (DPS) at an extra cost, allowing them to pay only a deposit upfront and defer their loan until the EC is completed. This way, they won’t have to manage two mortgage payments while waiting for their new home. With no ABSD payable and the flexibility of the DPS, upgrading to an EC becomes a much smoother process for HDB owners. Why are ECs Becoming Increasingly Expensive? The rise in construction and labor costs has been a significant challenge for property developers, a trend exacerbated by the Covid-19 pandemic. The global supply chain disruptions resulted in a tighter supply of materials, further inflating costs. Coupled with higher inflation rates, developers have faced mounting expenses. Additionally, construction firms are now competing for a limited workforce, as both public sector projects (like the Cross-Island Line and HDB Build-to-Order flats) and private sector developments continue to rise. Another key factor contributing to higher property prices is the escalation in land costs, particularly for new Executive Condominiums (ECs). Developers have been bidding aggressively for EC sites in response to strong market demand. From 2015 to 2024, the average cost of EC land has surged by 164%, increasing from $287 per square foot per plot ratio (psf ppr) to $733 psf ppr. A prime example of this trend is the Tengah Garden Walk EC site, which was awarded to a joint venture between City Development Group and MCL Land for $603 psf ppr in 2021. More recently, in February 2024, another EC site at Plantation Close was awarded to Hoi Hup Realty and Sunway Developments for $701 psf ppr—16% higher than the Copen Grand site, further reflecting the rising costs in the sector. Chart 1: Land cost of ECs since 2015 Thirdly, the harmonisation rule, which took effect on 1 June 2023, has impacted how developers market their properties. Under this new regulation, developers are no longer permitted to sell non-strata areas such as void spaces and air-con ledges. To compensate for the reduced sellable area, developers have adjusted their selling prices, resulting in higher per square foot (psf) pricing. Table 2: Existing launched ECs in the market In 2025, three new ECs are set to launch, with two in the East and one in the West. Here are the upcoming EC launches for 2025: Aurelle of Tampines Estimated launch: Preview in Feb 2025 Planning Region/Area: East/Tampines Distance to Nearest MRT Station: 5-min walk to the upcoming Tampines North MRT Station Number of Units: 760 Developer: Sim Lian Land Pte Ltd and Sim Lian Development Pte Ltd The first EC launch of 2025, Aurelle of Tampines, is expected to generate significant interest. This will be the first EC in Tampines since Tenet, which sold 72% of its 618 units upon its launch in December 2022. Residents in the East will be particularly drawn to Aurelle of Tampines, given that Tampines is a well-established town with excellent amenities. By the time buyers collect their keys, the town will feature four shopping malls and two community hubs. Additionally, Tampines is well-connected by transport, with multiple feeder bus services and four MRT stations. As a regional center, Tampines is home to two industrial estates and is conveniently located near commercial hubs such as Changi Business Park, Changi Aviation Park, and Changi Airport. Situated in the heart of Tampines North, a new development area, Aurelle of Tampines will be just a 5-minute walk from the upcoming Tampines North Integrated Transport Hub. This will provide seamless connectivity to the MRT station, air-conditioned bus interchange, community club, hawker center, and a new mall, Parktown Tampines. The Tampines North

Lentor
Blog, Buy Condominium in Singapore

Lentor Property Market: Oversupply Concerns or Golden Investment Opportunity?

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The Lentor area in Singapore has rapidly transformed into a new private residential hub, raising questions about whether the surge in new condominiums signals an oversupply risk or a prime investment opportunity. In this article, we will break down the recent launches, sales trends, pricing, and market outlook, so property investors and homebuyers can make informed decisions. Lentor’s Recent Condo Launches and Sales Performance Over the past few years, multiple condominium projects have been launched in Lentor, with most seeing strong buyer demand despite concerns over a potential oversupply. Here’s a look at the key projects: Project Launch Date Total Units Units Sold % Sold Average Price (PSF) Lentor Modern Sep 2022 605 508 84% $1,856 Lentor Hills Residences Jul 2023 598 559 93.3% $2,269 Lentoria Jan 2024 267 60 22% $1,965 Lentor Mansion Mar 2024 533 400 75% $2,200 (Source) What Do These Sales Figures Tell Us? Despite multiple project launches, demand remains strong, particularly for smaller units. In fact, one- and two-bedroom units in most Lentor projects have been nearly sold out. As of February 2025, only 159 units remain unsold across all major projects, representing just 6.4% of the total launched inventory. This suggests that the fear of oversupply may be overblown, especially since new launches in other areas of Singapore have struggled to achieve similar take-up rates. Lentor in the Context of the Broader Singapore Market Lentor is part of District 26, which had only 2,966 non-landed private homes as of Q4 2024, making it one of the districts with the lowest housing supply in Singapore. This limited supply is crucial because it helps to stabilize property prices and drive future appreciation. Additionally, the nationwide property market has shown resilience, with analysts forecasting a 2% to 4% price increase in 2025 due to strong demand and limited land supply. Will Lentor’s Property Prices Appreciate? Key factors supporting future price growth in Lentor: Conclusion: Is Lentor an Oversupply Risk or an Investment Opportunity? While the initial wave of launches raised concerns about oversupply, the sales figures and market fundamentals tell a different story. For property investors and homebuyers, Lentor presents an attractive investment opportunity—especially for those looking at long-term capital appreciation. Would you like personalized advice on investing in Lentor? Contact me today at 8826 3821, and let’s explore the best options for your real estate goals!

Singapore CBD
Blog, Buy Condominium in Singapore, Real Estate, Resale Condominium, Resale HDB

Singapore CBD Redevelopment: What Property Investors Need to Know

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The Urban Redevelopment Authority (URA) has extended the Central Business District Incentive (CBDI) Scheme and Strategic Development Incentive (SDI) Scheme for another five years. These initiatives aim to rejuvenate Singapore’s CBD real estate by encouraging the redevelopment of aging commercial buildings into mixed-use developments in Singapore. For property investors in Singapore, this presents a golden opportunity to capitalize on the transformation of the city’s prime real estate. Understanding the CBDI and SDI Schemes CBD Incentive Scheme (CBDI) The CBD Incentive Scheme was first introduced in 2019 to incentivize the redevelopment of older office buildings into mixed-use properties. Targeting precincts like Anson, Cecil Street, Robinson Road, Shenton Way, and Tanjong Pagar, the scheme offers 25% to 30% additional Gross Floor Area (GFA) for qualifying properties. In the latest 2025 update, the URA has also allowed long-stay serviced apartments in CBD Singapore, particularly in Anson and Cecil Street, broadening the scope for developers and investors. Strategic Development Incentive (SDI) Scheme The SDI scheme is designed for strategic areas like Orchard Road and Marina Centre, focusing on large-scale collaborative redevelopment between adjacent buildings. This encourages urban rejuvenation by introducing new commercial, retail, and residential property investment opportunities in Singapore. Why These Schemes Matter for Property Investors The extension of these schemes will significantly impact the Singapore property investment landscape, creating redevelopment opportunities in Singapore’s CBD. Here are some key reasons why investors should take note: 1. Unlocking Redevelopment Potential Several buildings have already undergone transformation under these schemes, including: With the extended incentives, more aging office buildings could be redeveloped into Singapore mixed-use developments, unlocking higher property values and investment potential in Singapore’s CBD. 2. Rising Property Values in the CBD With increased incentives to redevelop, properties that once housed purely commercial offices will now feature a blend of residential units, commercial spaces, and serviced apartments. This will make CBD properties in Singapore more attractive to homebuyers and investors, leading to higher rental yields and capital appreciation. 3. Diversification of Investment Opportunities The transformation of the CBD into a 24/7 live-work-play district will create new opportunities for real estate investment in Singapore, especially in sectors like: This diversification will attract different types of investors looking for high rental yield properties in Singapore. Key Considerations for Investors and Developers While these schemes provide exciting opportunities, investors should carefully assess the following factors: Eligibility Criteria Properties must meet specific criteria, including a minimum age requirement of 20 years and site area conditions. Investors should verify these details before committing to a redevelopment investment in Singapore. Market Demand and Urban Trends Understanding the demand for mixed-use properties in Singapore is crucial. With more companies adopting hybrid work arrangements, the demand for traditional office spaces has declined, making residential and hospitality developments in the CBD more viable. Sustainability and Green Initiatives The URA encourages eco-friendly developments, so developers incorporating green building features and sustainable designs will benefit from government incentives and long-term value appreciation. The Future of CBD Real Estate Investment in Singapore With the Singapore government’s urban redevelopment plans, the CBD is set to become a dynamic, multi-functional district. Investors who act early and secure properties with redevelopment potential in Singapore’s CBD can enjoy significant returns in the years to come. Whether you’re a seasoned investor or exploring your first property investment in Singapore, understanding these schemes is crucial to making informed decisions. As Singapore’s urban landscape evolves, those who stay ahead of market trends will reap the benefits of capital appreciation and rental growth. Stay Updated on Singapore Real Estate Trends For more insights on Singapore property investment, new launch condos in Singapore, and high rental yield properties, stay connected with our expert updates. If you’re keen on exploring CBD redevelopment opportunities, get in touch with Dominic Choa Real Estate today!

HDB vs Private Condos in Singapore
Blog, Real Estate

HDB Flats vs Private Condos: What’s the Right Fit for Your Family?

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HDB Flats vs Private Condos: What’s the Right Fit for Your Family? Singapore’s housing market offers a diverse range of options for prospective homeowners. The two most common choices—HDB flats and private condominiums—represent contrasting lifestyles, financial commitments, and investment opportunities. Deciding which is the right fit for your family can be challenging, especially when navigating the complexities of the market, eligibility criteria, and long-term benefits. This extensive guide explores the key differences between private condos and HDB flats, addressing pressing concerns, providing valuable insights, and offering actionable advice. By the end, you’ll have the clarity to make an informed decision for your family. What are HDB Flats and Private Condos? Breaking Down the Numbers: Financial Commitments Buying a home is a significant financial decision. Let’s look at how the costs differ between HDB flats and private condos. 1. Purchase Price 2. Loan Options Bank Loans for Condos: Condo buyers rely on bank loans with interest rates ranging from 2% to 4%, typically covering 75% of the property’s valuation. This requires a minimum initial cash outlay of 5% and up to 20% from CPF savings for the down payment. Financial Comparison Table Factor HDB Flats Private Condos Loan Type HDB Concessionary Loan or Bank Loan (up to 75% financing) Bank Loan (up to 75% financing) Interest Rate Fixed at 2.6% Varies, typically 2-4% Upfront Cash Required Minimal, CPF grants available Minimum 5% Cash for Down Payment Eligibility Restricted to Singapore Citizens and PRs Open to all, including foreigners subject to relevant stamp duties Capital Appreciation Slower, but steady for well-located flats Higher, especially in prime districts This table highlights the essential financial aspects of both housing options, helping you weigh the costs and benefits at a glance. Eligibility: Who Can Buy? Amenities: Lifestyle and Comfort HDB Flats HDB estates prioritize practicality and community living: Private Condos Private condos cater to those seeking exclusivity and luxury: Investment and Resale Value HDB Flats Private Condos Market Trends and Insights HDB Resale Market: Prices for resale HDB flats have increased by over 76.6% overall from 2010 to 2024. Key Questions to Ask Before Making a Decision The Final Word: Private Condos vs. HDB Flats Why Work with Dominic Choa? Navigating Singapore’s real estate market requires expertise and guidance. As an experienced real estate agent, I specialize in helping families and investors make informed property decisions. Whether you’re buying, selling, or renting, I provide tailored advice to ensure a seamless and rewarding experience. Let’s find the perfect home for your family. Reach out to me, Dominic Choa, here.